On the finish of the yr 2023, Paytm has given an enormous shock to its workers. Paytm’s father or mother firm One 97 Communications has determined to fireplace greater than 1,000 workers from varied departments within the identify of solid slicing within the firm. This information has come out quoting the Economics Times. There may be additionally info that the corporate might discharge extra workers within the coming time.
layoffs to streamline enterprise
In line with the information happening within the media, Paytm desires to prepare its enterprise and on this sequence it has laid off the workers. There may be additionally a risk that there could also be extra layoffs within the coming few months. In line with the knowledge, this determination of Paytm will have an effect on 10 p.c of the folks working within the firm. This determination of Paytm has created a sensation on the planet of Indian tech corporations, as a result of it’s being seen as the largest lay-off of a tech agency.
layoffs in startup firms
Let or not it’s identified that there have been layoffs not solely in Paytm however in lots of new startup firms in India. Information from Longhouse Consulting reveals that new firms laid off about 28,000 folks this yr. The speed of layoffs has elevated quickly in comparison with the final two years, as solely 4,080 folks have been laid off from these firms in 2021, and 20,000 folks have been laid off in 2022.
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